Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam’s branch in HCM City, on September 16 said that by the end of August 2024, total outstanding credit in the southern city reached over 3.7 quadrillion VND, up 0.75% from the previous month; up 4.68% compared to the end of 2023 and up 11.28% compared to the same period last year. Thus, after a slight decrease in July (0.09%), credit in August 2024 increased again.
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| HCM City's outstanding credit hits over 3.7 quadrillion VND in eight months |
Of which, foreign currency credit accounts for a low proportion of total outstanding credit, accounting for about 3.6%, and has been decreasing continuously in recent months, but has grown again in August 2024 with an increase of 0.8%.
“This development is consistent with the import-export situation in HCM City and the positive developments of the exchange rate. In particular, stable exchange rates and foreign exchange markets are also factors that positively affect production and business activities, import-export activities in particular,” Mr. Lenh explained.
Mr. Lenh also said that bank credit activities in the area continue to focus on the task of supporting businesses. So far, nearly 43,000 customers and businesses in HCM City have had their debts restructured, with a total outstanding debt of 41,498 billion VND.
In the first eight months of 2024, disbursement reached 425,659 billion VND, equivalent to 83.3% of the credit package scale registered at the beginning of the year, with 146,906 customers supported through lending interest rates reduction, debt restructuring, preferential interest rate loans and import-export loans.
In addition, total outstanding loans for five priority industry groups also reached 1,688 billion VND, up 0.7% against July 2024. In particular, outstanding loans for small and medium enterprises continued to maintain a high proportion, accounting for 82% of the total outstanding loans of the five industry groups./.